Gunderson's Play of the Day: Be a Land Baron

NEW YORK ( TheStreet) -- It seems just about everyone is clamoring to get a piece of the action in real estate these days. KKR ( KKR) said Wednesday it's starting its first-ever real estate fund, and the company will spend $500 million, initially, on investments.

Earlier in the week, another private equity firm, Blackstone ( BX), said it's now the largest owner of single-family homes in America.

Individuals trying to get deals on bargain-basement homes are competing with the big boys. And the deals are disappearing fast. In addition, many people still have damaged credit that keeps them out of the rebounding market.

The good news is that you don't have to have a checkbook with $500 million in it or pristine credit to get in on the burgeoning boom.

In the accounts I manage, I have a lot of exposure to real estate. I have written numerous articles over the past year on different ways that even individual investors without a lot of money can play the rebound in housing.

In my article yesterday, I referred to an August 2012 story about Home Depot. That's when I added it to my conservative growth model portfolio. The stock is up about 25% since then.

I wrote another article in October about how the building sector was the hottest of any industry. I singled out housing mutual funds like FSHOX, exchange traded funds like XHB, and some individual stocks that I liked at the time.

I recently wrote a story about an all-star small-cap stock by the name of Lumber Liquidators ( LLl). It continues to hit new highs.

Today, I am going tell you how you can become a land baron no matter what your credit rating is: Consider buying Blackstone stock.

Before we plunk down our money, let's have a walk-through first. You can listen to my analysis here or keep reading.

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